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"New York Life The First Choice Since 1845
For more than 160 years, New York Life Insurance Company's unwavering financial strength and time-tested investment strategies have provided consistent value and solid financial protection for our clients and their families.

Since becoming the first American life insurance company to pay a cash dividend to policyholders in the mid-1800s, New York Life has continued to build a history of innovation - enhancing our existing product lines, creating new financial products, and maintaining a diversified portfolio to best accommodate our customers' changing needs and lifestyles.

Central to our success are our New York Life agents, who are widely recognized as the best-trained professionals in the industry. Our agents have the ability to understand each customer's objectives and draw upon New York Life's products to best address those objectives. As you seek financial security for yourself and your loved ones, you want the best: A strong and vital company with a competitive product line and a superior sales force that is committed to providing personal attention to your individual needs.

Why We're a Mutual Company: The life insurance business is unique. People pay us premiums for many years and receive nothing in return but a promise that New York Life will be there, strong and solvent, decades from now, to help pay a claim, fund a retirement, or meet nursing home costs.

That's why it's important that we're a mutual insurance company. A mutual insurance company is a company that is not publicly traded. Therefore, it has no stock to be bought and sold and no shareholders. Instead, policyholders share in the ownership of the company. For this reason, unlike publicly traded companies that manage their business for the short-term benefit of shareholders, we are guided by the longer-term needs and expectations of our policyholders. This makes New York Life, essentially, a partner in your long-term planning.

Financial Strength: It all begins with financial strength, which allows us to meet our future obligations to policyholders. Along with nearly $160 billion in consolidated assets (As of December 31, 2004. Presented in conformity with accounting principles generally accepted in the United States of America (GAAP)) , New York Life Insurance Company holds a stable and diversified portfolio and consistently receives among the highest ratings for financial strength from the life insurance industry's independent rating agencies. We've earned these ratings: Our capital position is one of the strongest in the industry, giving us the financial strength to weather unexpected storms.

Total Surplus: An insurer's ability to maintain a high level of financial stability while meeting financial objectives is another clear indicator of its long-term security. One way to assess an insurer's strength in this area is to consider its total surplus. Surplus is essentially New York Life's net worth. It represents the accumulated earnings over the years from our business operation after all obligations are met. It's our safety margin in economic downturns and can be used to fuel the Company's growth. surplus is the most important single indicator of a mutual insurance company's financial strength. This strength ensures our ability to fulfill our long-term commitments to our policyholders.

Disciplined Investment Management: Wise investments and conservative balance sheet management are the foundation of New York Life's financial strength. Our investment portfolio is diversified and stable. In fact, the majority of New York Life's assets are invested in fixed income securities, and 92 percent of these securities have investment grade ratings by the National Association of Insurance Commissioners as of 12/31/04.

Diligent expense control: Reflected in New York Life's low expense ratio (this refers to the ratio of general expenses to net premiums written) - is further testimony to our sound financial management and our commitment to providing the best possible value to our policyholders.

Translating Strength into Value: Participating policyholders of a mutual insurance company are contractually allowed to share in the company's periodic distributions. In other words, they receive dividends when they are declared by the board of directors. (Dividends are not guaranteed, nor are current dividends an estimate of future performance.)

Since the mid-1800s, New York Life has paid more than $35 billion in dividends to our participating policyholders with permanent life insurance policies. In 2004 alone, we paid approximately $1.4 billion in dividends to our participating policyholders. Customer satisfaction is our agents' driving force, so their primary responsibility is to ensure that clients and their loved ones have optimal protection, and to help policyholders achieve a variety of financial goals.

Our agents are well qualified for this important work. Many have received their CLU (Chartered Life Underwriter) and ChFC (Chartered Financial Consultant) designations, and hold higher level degrees. Our field force's ongoing commitment to continuing education reflects their dedication to equip themselves with the best tools available in order to serve you better.

New York Life agents rightfully earn the trust and loyalty of their clients. Perhaps that's why our agents have led the world in Million Dollar Round Table memberships - the most prestigious of life insurance honors - for 50 consecutive years. The Million Dollar Round Table is an association of leading sales professionals in the life insurance industry.

Join the New York Life Family: New York Life has been the insurer of choice for Americans from every walk of life for seven generations - from little leaguers to baseball legends, from small business owners to captains of industry, scientists to socialites, homemakers to entertainers. Throughout our long and distinguished history, we have insured more than our share of famous faces, including Babe Ruth, J.C. Penney, Nat King Cole, and 10 U.S. presidents. But you don't have to be famous to be important to New York Life. We believe each of our policyholders is special, and we are committed to being there for all who have entrusted us with their financial future.

Consult a Life Insurance Agent: At no charge to you, a New York Life agent - professionally trained and experienced - can help you analyze your needs and recommend appropriate solutions through insurance and financial products and concepts. Click here to request a no obligation review with a New York Life agent. This material is being provided for informational purposes only. Neither New York Life nor its agents provide legal, tax or accounting advice. Please contact your own advisors for legal, tax and accounting advice." - newyorklife.com